Independent Advisor Alliance decreased its position in Lincoln National Co. (NYSE:LNC) by 9.0% in the 1st quarter, Holdings Channel reports. The firm owned 11,225 shares of the financial services provider’s stock after selling 1,107 shares during the period. Independent Advisor Alliance’s holdings in Lincoln National were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LNC. JPMorgan Chase & Co. grew its position in Lincoln National by 59.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock worth $806,475,000 after purchasing an additional 4,457,743 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Lincoln National by 5,290.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,883,468 shares during the last quarter. Norges Bank bought a new position in Lincoln National in the 4th quarter worth about $197,189,000. Millennium Management LLC grew its position in Lincoln National by 148.9% in the 4th quarter. Millennium Management LLC now owns 1,180,277 shares of the financial services provider’s stock worth $60,560,000 after purchasing an additional 706,124 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Lincoln National by 109.4% in the 4th quarter. Prudential Financial Inc. now owns 1,328,483 shares of the financial services provider’s stock worth $68,165,000 after purchasing an additional 694,063 shares during the last quarter. Hedge funds and other institutional investors own 84.44% of the company’s stock.
In related news, Director Gary C. Kelly sold 17,040 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $66.63, for a total transaction of $1,135,375.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jamie Ohl sold 7,263 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $61.70, for a total transaction of $448,127.10. Following the sale, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
LNC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Lincoln National from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. JPMorgan Chase & Co. set a $92.00 target price on shares of Lincoln National and gave the stock a “buy” rating in a research report on Thursday, May 2nd. ValuEngine raised shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Finally, UBS Group upped their price target on shares of Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $75.92.
Shares of NYSE:LNC opened at $64.19 on Friday. The company has a market capitalization of $12.91 billion, a PE ratio of 7.57, a P/E/G ratio of 0.76 and a beta of 1.95. Lincoln National Co. has a twelve month low of $48.07 and a twelve month high of $71.27. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.25 billion. Lincoln National had a net margin of 9.02% and a return on equity of 12.32%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.97 EPS. Equities analysts forecast that Lincoln National Co. will post 9.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.31%. The ex-dividend date was Tuesday, April 9th. Lincoln National’s dividend payout ratio is presently 17.45%.
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Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
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